Supra’s Vision For Automatic DeFi aka AutoFi Featuring Joshua Tobkin
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The key fundamental thing is that we move away from just classical Oracles doing just data, price feeds, you know, to systems that can actually debate and reason. And then in order to keep it safe, you need to randomize those the inclusion of these different models. They have to debate with each other and encrypt directly sign off on their their output, which allows us to bring in qualitative data, not just quantitative data, quality of, like, what is sentiment? You know, all kinds of things that you can't get otherwise into a blockchain.
Nothing said on Empire is a recommendation to buy or sell any investments or products. This podcast is for informational purposes only, and the views expressed by anyone on the show are solely their opinions, not financial advice or necessarily the views of BlockWorks. Our hosts, guests, and the BlockWorks team may hold positions in the companies, funds, or projects discussed. Alright, everyone. Welcome back to Empire. Very excited about this episode. We have Josh Topkin, cofounder and CEO of Supra. Supra has been a longtime supporter of BlockWorks across permissionless and podcast. So really
Yeah. No. It's great. I've been listening to your podcast for years. I learned so much from it and, really love your takes. So it's it's so such a privilege to be here.
I have horrendous takes, but we bring on people with good takes. So I'm glad that, yeah, I'm glad I'm glad to have you on. I think so the reason I want to bring you on is you guys just released this, white paper, Super two point o, automatic DeFi and the future of decentralized finance. You rolled out this term that I had never heard of called AutoFi, and the way that my, you know, smooth brain thought about this was, look. Right now in crypto, there's a lot of actions that users have to take, but what if you could run DeFi essentially on autopilot, managing risks, moving money in real time, g
Yeah. So Supra, our point of view and our kind of general thesis is that if a layer one can handle more services than just one thing, then it should. If there's enough compute and bandwidth available, to for these nodes to be doing more than one service simultaneously, they should. So we our thesis is basically the opposite of the modular thesis. Ours is the vertically integrated thesis, full vertical integration, single layer one that also has built in Oracle protocol that's very high performing, very secure, cross chain communication, and on chain randomness as well as automation. The automa
Okay. How did we get to this as the philosophy? Right? Because on one hand, maybe you have, like, these general purpose chains. On the other hand, you have, like, app chains, obviously. It, vertically integrated. Maybe you could also say, like, purpose built. You guys are maybe somewhere in the middle. I don't know if that's the right if it's, dumbs it down too much to use that kind of spectrum. But how did you arrive here?
You know, the first origin of the idea is back in 2017, like, November 27, San Francisco. You know, it just clicked to me that we could organize the network into a very unique architecture we call tribes and plans. And, but in order to keep the shared security, we needed randomness. So you randomize the allocation of notes to different committees. Right? And to get randomness onto a deterministic perfectly ordered blockchain was a difficult problem. And in my naive kind of point of view, like, eight years ago, I was like, okay. We need Oracles for this. You know, I was actually originally, lik
on the Oracle side of things, so right now, if an like, an Or
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